Wicked off the high volume candles for support and resistance levels
Reviewed the larger cycle on the weekly and daily view to set price targets
Look as though we are in Wave 3 of a bull market since the correction following the ATH
Will look to add to current position during the Wave 3 Corrections, laddering investment down in Wave 4
Wave 3 can extend further but...
Still Long on GOLD.
Correction of the new impulse wave, came down to the 50% fib level.
Probably looking to come down and test the 50% level again, touching the uptrend line.
I will add small position if we break up from the channel before coming down one more time.
Fib Counts in! If we continue up due to earnings reports that are being released we will have to reconsider but as far as the FIB LEVELS and the S&P respecting them it is time for the next impulse move down!
Short Entered at .5 Fib level
RSI turn down
MACD Histogram Weak Signal
Forecasting with continued pattern showing the number of days allow for a slight prediction of time going forward.
Will adjust as we go along
One step at a time- as AVASREADER says.
Thank you AVASREADER to bringing this trade to light
Personal Reference- I am not a professional trader.
Brilliant amount of structure supporting at the moment! Time your entry using smaller time frames.
Text Book Divergence, lower price point on chart, higher mark on both MACD (including flip switch to the bull side) and RSI.
EMA 28 and 50 about to cross to the positive.
If pivot holds, 80% chance of us...
Personal Reference- completely educational and practice
4 hour is showing: Dragonfly Doji
Dragonfly doji form when the open, high and close are equal and the low creates a long lower shadow. The resulting candlestick looks like a “T” with a long lower shadow and no upper shadow. Dragonfly doji indicate that sellers dominated trading and drove prices lower during...
Expect a small climb or some consolidation to allow for the oscillators to reach close to overbought and/or recoil on the down trend line.
Look to short in or above the value zone- reviewing the oscillators.
Stop Loss 1.5 ATR Channel
Personal Reference- I am not a professional trader-
Look for the correction down to enter.
Hit the pocket and buy big using options, correction of the `1 down to the 2 completed, starting the larger three wave.
can take partial profits along way.
Larger trade allows for a 2 to 3 year investment.
Coca Cola has been in an uptrend channel for a number of years now! But i am not sure if i should short this market now or wait for a confirmed break down?! HOW WOULD YOU ALL PLAY THIS?
From my little experience in candlestick reading- today's close is an indication that the buyers are running out of strength! HELP :)